Bumi News

The American Bureau of Shipping has awarded an approval in principle (AIP) to Malaysian floating production firm Bumi Armada for a floating liquefied natural gas (FLNG)  infrastructure design. The new concept incorporates a barge-based liquefaction unit and utilizes existing LNG carriers for storage. ABS completed design reviews based on class and statutory requirements."We are pleased to support Bumi Armada in their ongoing efforts to offer  safe and reliable LNG storage solutions.

The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) for Bumi Armada’s pioneering design for a floating carbon storage and injection unit (FCSIU).Bumi Armada’s FCSIU concept is a floating terminal capable of storing and injecting liquified carbon dioxide (LCO2) into depleted oil and gas fields or aquifers. This novel concept incorporates the ability to accept LCO2 deliveries in an offshore setting, the flexibility to manage LCO2 at low or medium pressure…

Bumi Armada's Armada Kraken FPSO, a production unit operating at EnQuest's Kraken offshore field in the UK North Sea, has increased operational performance following a shutdown in early June.As Offshore Engineer previously reported, the Armada Kraken FPSO was shut in in June following the failure of critical hydraulic submersible pump (HSP) transformers.The Kraken FPSO is deployed at Kraken field under a bareboat charter contract.During the first four months of 2023, the average net production from the Kraken field was 15,910 barrels of oil equivalent per day.On June 21, Bumi Armada said that production had resumed from the FPSO and was at around 60% of pre-shutdown levels.In an update on Thursday…

Malaysian FPSO leasing company Bumi Armada said Tuesday it had completed the sale of the Armada Claire floating production storage and offloading vessel. The FPSO was sold by Bumi Armada's subsidiary, Armada Balnaves."The Armada Claire sale was on an “as is where is” basis, at a sale price of US$20 million. The sale proceeds were received by [Armada Balnaves] on April 19, 2023," Bumi Armada said,Bumi Armada said it would recognize a gain on sale of the Armada Claire FPSO of approximately US$12 million in its second quarter financial results. Proceeds from the FPSO sale, net of transaction fees, will be used to reduce Bumi Armada Group’s corporate debt.

Lloyd’s Register (LR) has appointed Chakib Abi-Saab to its newly created role of Chief Technology and Innovation Officer (CTIO). Abi-Saab, who was previously with Bahri (formerly known as the National Shipping Company of Saudi Arabia) as their Chief Technology Officer, joins LR with considerable expertise in technology and digital enablement from both maritime and the oil and gas industry. Before his time with Bahri, Abi-Saab held executive roles at ship management company OSM, offshore energy provider Bumi Armada and Oil and Gas Services provider Baker Hughes.

The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition, the implications of Russia’s invasion of Ukraine have only reinforced some of these pre-existing dynamics…

Malaysian FPSO specialist and offshore support vessel owner Bumi Armada has decided to sell its icebreaking vessels operating in the Caspian Sea for Lukoil, in line with its plan to exit the offshore marine service business.Bumi Armada said Wednesday that its board of directors had agreed to sell subsidiaries owning Ice-class vessels operating in the Caspian Sea for $44.5 million in cash. The company plans to use $38 million of the proceeds from the sale to reduce debt, with the remaining $6.5 million going toward working capital.The four subsidiaries being sold, collectively referred to as "Ice Class Vessel Companies," are Bumi Armada Marine Uray…

Bumi Armada, a Malaysian offshore service firm and FPSO provider, has decided to wind up its two dormant subsidiaries.The company said that its subsidiaries Offshore Marine Ventures Sdn Bhd and Bumi Armada Ship Management Sdn Bhd, had approved via Special Resolutions at their respective Members’ meetings held on Thursday, December 30, 2021, for the two firms to be voluntarily wound-up. Arulendran Gunedran of RSM Corporate Advisory (Malaysia) Sdn Bhd has been appointed as the Liquidator for the purpose of such winding-up of the Subsidiaries.Offshore Marine Ventures was incorporated on July 22, 2005. OMV was principally involved in activities consisting of the provision of marine transportation and support services to the oil and gas industry.

Indonesia said on Thursday it would allow 37 vessels loaded with coal to depart, in the strongest sign yet that the world's biggest thermal coal exporter is relaxing its ban on shipments.A senior cabinet minister said in a statement the ban implemented on Jan. 1 had been eased for miners that have met a requirement to sell a portion of their output for local power generation, after the state utility procured enough coal to ensure 15 days of operation."I request that this is supervised closely so this also becomes a moment for us to improve domestic governance…

Chinese thermal coal futures fell on Tuesday after Indonesia, the world's biggest thermal coal exporter, eased a ban on overseas shipments that surprised buyers at the start of the year, alleviating concerns about supply disruptions.The export ban was introduced after state power utility Perusahaan Listrik Negara (PLN) reported critically low coal stockpiles amid complaints miners were not fulfilling their responsibilities to supply fuel to the company. Driven by concerns about the impact to their economies which depend on coal-fired power generation…

Indonesia, the world's biggest thermal coal exporter, sent shockwaves through global energy markets this week by suspending exports of the fuel in January due to critically low coal supplies at domestic power plants.WHY DID INDONESIAN AUTHORITIES DECIDE TO ACT?Coal makes up around 60% of Indonesia's energy mix and its energy ministry said by the start of 2022 only 35,000 tonnes of coal had been delivered to state power firm PLN.PLN had secured 13.9 million tonnes by Wednesday but needs another six million tonnes to ensure a 20-day stock level of 20 million tonnes.

More FPSO contracts were awarded in the second quarter of 2021 than during the whole of 2020, with Rystad Energy expecting FPSO awards to reach a total of 10 units in 2021. Rystad has also noted muted interest from suppliers for some recent FPSO tenders, citing a nearly full capacity with several suppliers unable to take on new projects.Further, Rystad sees another 10 FPSO orders in 2022, which will, according to the Norwegian energy intelligence group, create "a very healthy project line-up for contractors…

Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour.SP Armada Clean Energy Ventures Private Limited (SPACEVPL), Bumi Armada's joint venture with Shapoorji Pallonji entered into a license agreement on May 18, 2021,  with the Board of Trustees for the Port of Mumbai to set up, operate, and maintain an FSRU in Mumbai Harbor for a period of 30 years.Under the license agreement…

Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil  in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds. The oil can then be pumped off to shuttle tankers that transport it to shore side tanks and refineries.FPSOs are big expensive pieces of equipment. Some of them are converted from ocean going oil tankers. Such is the case with the 333 by 60-meter, very large crude carrier, VLCC Ariake, which was purchased for conversion to an FPSO.

Indian oil and gas company ONGC plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited.Bumi Armada said Wednesday that its JV company had recently received notification from ONGC, about the oil company's plan to extend the contract of the Armada Sterling FPSO from April 20, 2020. "According to ONGC, approval for the formalisation of the contract extension has been delayed due to the COVID-19 lockdown in India…

The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO vessel market, said a report by Transparency Market Research Market (TMR).On the basis of geography, Latin America held a large share until 2016. In the upcoming years Brazil is projected to hold a major share in the global floating production storage and offloading vessel market.

Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, said Rystad Energy.According to Norwegian energy research firm, the growth will be driven by a handful of new mega-projects across Malaysia, Myanmar and Vietnam, according to the latest tally of project commitments in Southeast Asia by the Norwegian energy research and consulting firm.New final investment decisions (FIDs) in 2021 are expected to sound the starting gun for big contract awards in Vietnam, Indonesia and even politically-troubled Brunei.“We anticipate that operators will aim to place most of the associated contracts within their domestic markets…

Malaysian oilfield services company Bumi Armada Bhd has found a buyer for its floating production storage and offloading (FPSO) vessel Armada Perdana in Nigerian company Century Energy Services (CESL) for RM167.17 million ($40 million).Kuala Lumpur-based floater player said in a Bursa Malaysia filing that its subsidiary, Armada Oyo Limited (AOL), had entered into an agreement with CES) for the sale of the Armada Perdana.CESL plans to redeploy the vessel to another field in Nigeria, said the statement.CESL has already paid $4.5 million out of a $5.5 million deposit to AOL, with the outstanding amount to be satisfied before the end of the year.Additional vessel expenses incurred from August 1 until the delivery date of the FPSO will be offset against the purchase price.Then…

National Oilwell Varco, a provider of equipment and components used in oil and gas drilling and production, announced new contract award for submerged turret production (STP) system.APL, part of NOV's Completion & Production Solutions segment, has been awarded the supply of another large STP system, said a press release from NOV.This follows a recent  contract award from Samsung Heavy Industries Co. Ltd. for Reliance Industries' FPSO on the MJ field.This time, the system will be provided to a joint venture between Shapoorji Palloonji Oil and Gas and Bumi Armada Berhad. The STP system will be used for an FPSO vessel that will be deployed on the East Coast of India.The STP system is a unique and flexible turret mooring system for FPSOs.The STP swivel…

Malaysia's offshore oilfield services firm Bumi Armada announced that its first-quarter net profit jumped 28.5% on-year, mainly thanks to joint ventures, lower cost of sales, and lower distribution costs.Net profit for the January-March period climbed to 62.21 million ringgit ($14.86 million), compared with a 48.42 million in the same quarter a year ago, said a stock exchange announcement.However, its revenue fell by 18.1% to RM491.61mil from RM600.34mil a year ago. The compay said floating production and offloading (FPO) business reported lower revenue of RM425.6mil due to lower revenue from Armada TGT 1 FPSO, with the vessel now in…

The floating storage and offloading (FSO) vessel market is anticipated to surpass USD 30 billion by 2025, said a study.The FPSO market is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves, said a market report by GM Insights.Development challenges including excessive costs, material transportation, environmental conditions and decommissioning associated with fixed infrastructures will further shift the industry focus toward the utilization of these vessels as an alternative, it said.Furthermore, advancement in subsea technologies along…

Indonesia's state owned energy holding company, Pertamina, has decided not to go ahead with what would have been the country's second land-based receiving terminal for liquefied natural gas (LNG), its chief executive said on Monday.Indonesia has forecast sharp increases in gas demand after 2020, but increases in domestic consumption of the super-cooled fuel have been hampered by an abundance of cheap coal and sluggish development of gas infrastructure."Today we are not going ahead, because it is not yet feasible to continue," Pertamina acting CEO Nicke Widyawati told reporters, referring to the project that would have been built in Bojonegara…

More than 440 tons of heavy fuel oil was extracted from the tanks of the sunken general cargo vessel Thorco Cloud. The wreck lies in two sections 1,730 meters apart and 70 meters down in the middle of the eastbound traffic lane of the Singapore Strait following a collision in December 2015. The heavy oil in the fuel tanks and in trapped compartments was seen as a major pollution hazard. Both the bow and stern sections contained fuel tanks that required emptying, so the Thorco Cloud’s owner, Marship GmbH, supported by the P&I insurance company Standard Club, contracted Jaya Salvage Indonesia early last year. Bumi Subsea provided remotely operated vehicles (ROV) and the dynamically positioned Surf Allamanda, owned by Bourbon Offshore.